Tata Group’s hospitality unit Indian Hotels Company Limited (IHCL) has signed a definitive agreement to acquire a 51% equity stake in two companies operating 135 hotels under the Clarks Hotels and Resorts brand for Rs2.4bn ($23.28m).
The acquisition involves ANK Hotels, which manages 111 midscale hotels, and Pride Hospitality, which operates 24 hotels across India.
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IHCL will acquire majority stakes in ANK Hotels for Rs144m and in Pride Hospitality for Rs189.4m by November 2025.
In a stock exchange filing, IHCL stated: “The transactions aim to address India’s heterogeneous market landscape and provide deeper geographical penetration across India in the midscale segment while continuing to pursue its asset-light growth strategy.”
IHCL managing director and chief executive officer Puneet Chhatwal said: “India’s hospitality sector has witnessed sustained demand momentum over the last three consecutive fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends.
“The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment.
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By GlobalData“Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India’s heterogeneous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”
ANK Hotels operates under the Clarks Hotels & Resorts umbrella, including Clarks Inn, Clarks Inn Suites, and Clarks Inn Premier. Out of the 111 hotels, 67 are operational, with a turnover of $1.63m in FY25.
Pride Hospitality manages Clarks Safari, Clarks Collection, and Clarks Resort, with 13 hotels operational and has a turnover of $2.16m in FY25.
In addition to the acquisition, IHCL has signed a distribution and marketing agreement with Brij Hospitality, which operates 19 hotels under the Brij Brand across India’s unique destinations.
